A property expert believes Malaysians are having a hard time securing a housing loan since most of them are already saddled with a lot of commitments, which include car loans and credit cards, reported Free Malaysia Today.

“These days, it’s difficult for Malaysians to get a house loan as most of them have a lot of commitments,” said See Kok Loong, Deputy President of Malaysian Institute of Professional Estate Agents and Consultants.

Banks have also been very strict in approving loans.

As such, obtaining a loan has been especially hard for those in the bottom 40 or B40 group, noted See.

“Practically, the B40 group can’t get loans from commercial banks because of their low disposable income,” he said.

“It is easier for the M40 (middle 40) to get a house loan, especially if they work in the corporate world.”

Last month, a woman named Hafiza Abdul Rahman reportedly claimed that she had filed a housing loan application 15 times in the past 10 years, all of which was denied.

With this, 29-year old Ash said she would rather rent a home than buy her own house.

“It’s hard to get a loan, especially when you’ve just started working. I ended up not applying anymore,” she said.

In concurring, Mohd Hafidz Matdiah the high property prices in Kuala Lumpur made him decide against buying.

“For a limited space, it is almost RM3,000 per month, which is outrageous,” said the 33-year-old, who works as a consultant.